• Airtel Payments Bank has collaborated with Mastercard to create customised financial products for Indian farmers and Small and Medium Enterprises (SMEs).

• These financial products particularly for those territories where there is less access to bank administrations.

• The coordinated effort will unite Mastercard’s worldwide and nearby involvement with developing advanced financial solutions and Airtel Payments Bank’s circulation system to arrive at the last mile and its large customer base.

• Deutsche Bank has received approval to offer custodial services for silver bullion contracts.

• The bank had received licence for custodial services in gold, oil and natural gas and index futures in October.

• For institutional participation in commodity derivatives, appointment of a custodian is mandatory for these asset managers for safekeeping of any physical assets.

• Even as Securities and Exchange Board of India (Sebi) had permitted institutional investors to trade in commodity derivatives segment for the first time in September 2018, the participation could not take off immediately as there were no licensed custodians for commodities.

• The government has decided to withdraw 7.75% Savings (Taxable) Bonds scheme from the close of banking business on Thursday due to declining interest rates.

• The scheme, commonly known as RBI Bonds or GOI bonds, is popular among retail investors who looking for safety of principal and a regular income.

• The Reserve Bank of India too has notified the Cessation of 7.75% Savings (Taxable) Bonds, 2018. Interest on the Bonds is taxable.

• The Bonds are issued at par at ₹100. The minimum subscription was fixed at ₹1,000.

• As per the scheme, the Bonds are be repayable on the expiration of seven years from the date of issue.

• The cash management bill (CMB) is the most flexible instrument for a Central Bank because it can be issued when needed, allowing the Central Bank to have lower cash balances and issue fewer long-term notes.

• CMBs tend to pay higher yields than bills with fixed maturities, but their shorter maturities lead to lower overall interest expense.

• The Government of India, in consultation with the RBI, had decided to issue a new short-term instrument, known as Cash Management Bills, to meet the temporary cash flow mismatches of the Government.

• CMBs in India are non-standard, discounted instruments issued for maturities less than 91 days.

• Power Finance Corporation (PFC) has entered into an agreement with Narmada Basin Projects Company Ltd to fund projects worth ₹22,000 crore in Madhya Pradesh.

• The funds will be deployed by NBPCL for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in state.

• PFC is a central PSU under Ministry of Power and one of India's leading NBFCs.

• Narmada Basin Projects Company Ltd. (NBPCL) is a wholly-owned company of Madhya Pradesh government.

• The country's largest carmaker Maruti Suzuki India (MSI) has joined hands with ICICI Bank to offer retail financing schemes to its customers.

• As part of the tie up, ICICI Bank is offering flexi EMI scheme which enables customers to pay low EMI initially, in order to help them overcome the liquidity stress due to the COVID-19 pandemic.

• The EMI amount starts from Rs 899 on a loan of Rs 1 lakh for first three months. The bank is also offering similar other EMI plans for MSI customers.

• National Payment Corporation of India (NPCI) has launched an artificial intelligence (AI) based chatbot, PAi, to create awareness around its products like FASTag, RuPay, UPI, AePS on a real time basis.

• This is yet another NPCI’s initiative to improve digital financial inclusion in India.

• The AI virtual assistant, PAi is available round the clock helping users with access to accurate information on NPCI products. Customers can ask their queries in English and Hindi, via text or voice on the websites of NPCI, RuPay, and UPI Chalega.

• Through PAi, users get verified automated responses to their queries on all NPCI’s products. PAi would also be accessible to global RuPay Cardholders as well.

• Securities and Exchange Board of India (Sebi) haimposed a penalty of ₹7 lakh on the National Highways Authority of India (NHAI) for delay in disclosing financial results.

• The market regulator observed that NHAI had delayed filing half yearly financial results between FY16 and FY19. The delays ranged from 4 days to 78 days.

• According to Sebi's listing obligation and disclosure norms (LODR), the half yearly results have to be filed within 45 days from the end of the half year.

● The first meeting of the 15th Finance Commission’s (XVFC) committee on Fiscal Consolidation Roadmap was held through video conferencing (VC).

● The committee headed by Nand Kishore (NK) Singh has recommended the judgement of Reserve Bank of India (RBI) on monetisation of fiscal deficit.

● The committee supported the Centre’s decision of allowing states to borrow up to 5% of gross state domestic product (GSDP)

● The Committee also estimated India’s GDP growth to -6% to 1% in the financial year 2020-21.

● The nominal GDP will accelerate to 4-5% in FY2021-22.

* The Reserve Bank of India has cut key repo lending rate by 40 basis points to 4%.

* This is expected to bring down lending rates and deposit rates as well.

* RBI's monetary policy committee in an off-cycle meeting voted 5-1 for a 40 bps repo rate cut, while maintaining an accommodative stance.